925.621.4064 
SEARCHLower Prices Entice Buyers
October 12, 2006
As prices in some communities experience drops, many potential buyers are jumping in and getting the home they want, in the neighborhood they want, and at a price or monthly payment they want.Â
Lower home prices are turning potential buyers into active lookers, and sellers are showing more willingness to negotiate, the NATIONAL ASSOCIATION OF REALTORS® reports. The trend is expected to inject life into slowing markets.
Interest Rates to Rise Next Year
The 30-year fixed-rate mortgage will probably average 6.5 percent in the fourth quarter but will trend up modestly in 2007. The 30-year fixed-rate mortgage will probably average 6.5 percent in the fourth quarter but will trend up modestly in 2007.
As sellers look for creative ways to sell their home, many buyers are getting their dream home at a price and terms they want. Interest rates are good, but may be trending up in ‘07. As sellers get more creative, options like seller buy downs are a great way to save tens of thousands of dollars in interest payments. One word of caution is this; sellers markets generally last longer than buyers markets, and as we approach the holidays many sellers will be looking for more non traditional ways to sell their home, and conceding to buyer’s terms. Don’t think that this opportunity will still be here in ‘07 because you may miss the boat on this one and end up losing tens of thousands of dollars or the perfect home.
If You Enjoyed This Post, You May Also Like...
- Sales and prices soften, but rates are falling too
- Loan Rates Decrease and Applications Rise
- Existing sales on the rise, but prices are not following
Comments
Got something to say?
-
-
Email Newsletter
Don't miss any valuable news and information on Pleasanton and Dublin real estate. Receive blog articles by email.
-
Recent Comments:
- philip c. romero: i may be purchasing a condo in daville about the price range of 360,000 and wanted to know what...
- Morgan Hill Real Estate: Great blog and really nice site. I liked the video tips piece. Hope 2010 is the best year...
- Joe Hackman: Wow, down 67%! Impressive, let me know when you get the data updated I’d love to see it. Joe
- The Moxley Team: Hi Joe, In Danville the inventory is low compared to a year ago. Ill have some information on it...
- Joe Hackman: How is the inventory right now in Danville? I don’t see many for sale signs? Are sales picking up?...
